Council Creates Task Force to Review City Charter
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Update to Greenfield TIDDs Raises Serious Concern
On Friday, November 30, 2007 a televised Tax Increment Development District (TIDD) debate aired on KNME’s Channel 5, "In Focus/The Line”. The next televised event on KNME Channel 5 occurs on the following date:
- Sunday, December 2nd at 6:30am
The TIDD Reform efforts were initiated in response to Councilor Cadigan's serious concerns with Greenfield TIDDs.
- How will we take care of the existing community and the additional burden of new development on the fringes when most of the new tax revenue will be siphoned off to large out of state developers?
- What does the rest of Albuquerque get out of this diverted revenue stream?
- What happens if the diversion of up to 75% of the gross receipts tax revenue for 25 years reduces state capital outlay funding for other projects in Albuquerque? For example: The reconstruction of the Paseo del Norte/ I-25/Jefferson interchange.
The Westside Coalition of Neighborhood Associations held a special meeting on November 29, 2007 to discuss TIDD Reform. The Coalition voted to support Councilor Cadigan's TIDD Reform efforts. With an overwhelming vote of 9 to 3, the Westside Coalition voiced its opposition to TIDDs in Greenfields (undeveloped land) in Albuquerque.
URGENT-- Let your Councilor know your opinion on this crucial piece of legislation up for a vote on Monday, December 3, 2007. Please come to the Council meeting on Monday, Dec. 3, 2007 and voice your opinion for the 5pm meeting, or call/email your Councilor prior to 5pm on Monday.